Mortgage Rates Dip Back Below 3% Home buyers and homeowners got another chance this week to lock in historically low rates. The 30-year fixed-rate mortgage averaged 2.98%, Freddie Mac reports. “Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week,” says Sam Khater, Freddie Mac’s chief …
Tag: tips
Nov 16
Buyers Still Must Think Fast, Act Fast
Buyers Still Must Think Fast, Act Fast Home buyers don’t have much time to decide whether they want a house or not. As soon as a listing hits the market, the rush is on. Home sales between July 2020 and June 2021 were on the market for a median of just one week before …
Nov 16
40% of Properties Considered Equity-Rich
40% of Properties Considered Equity-Rich Homeowners are striking gold in real estate. The percentage of financed homes that were equity rich in the third quarter grew to nearly 40%, up from 28.3% a year ago, ATTOM Data Solutions reports. A home is considered equity rich when the combined estimated amount of loan balances on the …
Nov 15
Home Prices Climb
Home Prices Climb Home prices continue to rise rapidly as homeowners see double-digit gains over the past year. The median sales price of single-family existing homes rose 16% in the third quarter, an increase of $50,300, according to the latest quarterly report from the National Association of REALTORS®. Three metros saw price gains of …
Nov 15
Homes Continue to Sell at Record Pace
Homes Continue to Sell at Record Pace Home buyers are still snatching up homes at a quick pace. Homes sold more quickly in October than in any October in recent history, according to realtor.com®’s Monthly Housing Report. The typical home spent just 45 days on the market in October, reaching an eight-month streak of homes …
Nov 15
Will Higher Values Mean Higher Taxes?
Will Higher Values Mean Higher Taxes? As home values rise, some homeowners may want to brace themselves for a potentially shocking property tax bill, housing experts warn. The magnitude and timing will vary. But property taxes are expected to rise by hundreds of dollars in many areas, even in states such as California and …
Nov 11
Credit and what to expect.
Credit and what to expect. Check out these credit tips when applying for a mortgage. With the help of myself and John Coneys of RoundPoint Mortgage, (NMLS# 183853 – 610.322.4886) we can explore homebuying options to help you meet your goals. #RealEstate #Realtor #HomePurchase #BuyersMarket #PlymouthMeetingRP
Nov 10
Cash-Out Refis Surge as Owners Use Equity Gains
Cash-Out Refis Surge as Owners Use Equity Gains With double-digit annual gains fueling homeowner wealth, owners have gotten richer, and they’re starting to take advantage of that added equity. Cash-out refinancing, which allows owners to take out a lump sum from their equity through loans, increased by 33% in October compared to a year …
Nov 09
Unrealistic Expectations of First-Time Home Buyers
Unrealistic Expectations of First-Time Home Buyers A first-time home buyer may need to be educated about the realities of the housing market before they fall in love with a home and then quickly lose out to another bid. To prevent heartache, real estate professionals can have frank conversations with their buyers about the realities of …
Nov 09
Bidding Wars Still Burden Unsuccessful Buyers
Bidding Wars Still Burden Unsuccessful Buyers A majority of house hunters say it’s not prices that are keeping them out of the housing market—it’s other buyers. Forty-five percent of prospective buyers recently surveyed say they keep getting outbid by other offers, according to a new survey from the National Association of Home Builders. The NAHB …
Nov 09
U.S. House Passes Bipartisan Infrastructure Bill
U.S. House Passes Bipartisan Infrastructure Bill The U.S. House of Representatives passed the bipartisan Infrastructure Investment and Jobs Act Friday, sending it to President Joe Biden for his signature. The $1.2 trillion bill is the most significant investment in infrastructure in decades. It includes new money for the power grid, managing climate risks, and repairing and …
Nov 08
Mortgage Rates Post Temporary Drop
Mortgage Rates Post Temporary Drop Offering slight relief to home buyers this week, the 30-year fixed-rate mortgage fell to a 3.09% average. But rates may rise again soon. Housing analysts largely expect mortgage rates to increase in the following months due to the Federal Reserve’s announcement this week that it will slowly reduce its monthly …
